The Grove is a newly constructed Class-A community that sets the standard for suburban luxury apartment living. The 320-unit, two-story apartment community is located along East Beltline Ave in Michigan’s fastest-growing metro area, Grand Rapids. Construction was completed in Q1 of 2022.
The northern portion of the Grand Rapids MSA continues to see business expansion and population growth. Year-over-year rent growth reached 9.2% for this submarket, with overall occupancy at 96.9%. This neighborhood offers a high standard of living while providing suburban conveniences and reasonable commute times to local major employers.
Downtown Grand Rapids is the leading employment hub for the regional economy, with a high concentration of life-science employees. In 1996, the Van Andel Institute founded the Medical Mile along Downtown Grand Rapid’s main thoroughfare, Michigan Street. Today, this section of downtown has expanded to include six major hospitals, medical facilities, and research centers. The Grove is the perfect landing spot for the continued inflow of white-collar employees to this region.
Grand Rapids, MI
320
Q1 2023
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